/biz/ - Business & Finance

Do the opposite of what plebbit says and you will survive

>>17879973
>cash is dirty
Not leaf cash which can be washed with soap.

>>17879973
Oh shit. Bank run incoming

>>17880010
downvoted

>>17879973

How delusional are these fucking retards? Do they actually think behind every ATM there is a literal money printer and that banks can never become insolvent?

Fuck me, this triggers me to no end.

Don’t incite bank runs. The Boomers are almost guaranteed to do it already. Don’t contribute to it.

All of my bills are online auto-pay. 99% of services accept cards.

>>17880075
My parents lived in the soviet union and when it was falling all of their money was "frozen" in the accounts, government said that fundsu are safu no worries there is no reason to ask your money, after the crash they never managed to recover those fundsu.

>>17880025
it dont matter. none of this matters

>>17880096
>Don’t incite bank runs
Why not?

>ATM IS LITERAL MONEY PRINTER

>>17880025
The fuck good is worthless paper going to do you?

>>17879973
>GOYIM DONT TAKE YOUR MONEY OUT PLS

>>17880175
Do you want the society we live in to collapse?

Major Bank employee here, don't listen to Reddit. Run to the fucking bank now and pull cash. Make sure to disinfect the bank notes though.

>>17880150

Lowkey athf reference?

>>17880150
jesus fucking christ. There goes the usd, we are fucked

What is it with reddit always holding the most cucked and blue pill point of view. Take any matter and think of the most cucked pov to take on it, and it will be the main concensus on reddit.

>>17880143
you know what (((they))) can't freeze or take?
buttcorns

>>17880143
Money was frozen and then devalued. They just said well go- guys the Soviet union was a totalitarian shithole so whatever money you earned is worthless.

>>17880143
my grandad took out a mortgage before that
lost some monies in the frozen accounts due to hyperinflation but his debt turned into the price of 3 loafs of bread
this was in SFRJ

>>17880196
Yes.

>>17880234
to reiterate on this, the kikes fucked us beyond repair

>>17880196
do you not?

>>17880271
>>17880258
Do you want commies to try do what they did in Nazi germany again?

>>17880290
I suppose you have a point there anon

>>17879973
Does anyone know how to make a meme of JP Morgan (the original) sitting behind a computer?

>>17879973
>we will be there when things get bad, just trust us bro

>>17880196
fuck yes nigger

>>17880143
My great grandma had some money saved up, she was smart enough to have it at home, but the inflation hit so fast she couldn't do anything with it. And it's not like the government would allow you to buy gold or even a large amount of food or anything you could spend all that money on. So even if it wasn't frozen in her bank account, she still didn't have anything left at the end.

>>17880290
I just want a strongman dictator to make things better

>>17879973
>we will be there when things get bad
i trust this man

>>17880382
>And it's not like the government would allow you to buy gold
what is black market lmao

>>17880150
I know I’m low IQ, but what does that mean?

>>17880075
Yeah that's literally what the fed is

>>17880428
worthless money is still worthless in the black market

>>17880196
just the financial system. can you go back please?

>>17880428
And what does worthless paper buy you there? Look at how people treated money in the Weimar Republic.

>>17880505
>worthless money
who said anything about this?
of course you'd need to buy the gold before the currency gets fucked you dumb nigger

>>17880447
Previously banks could only loan 1000% more money than they had in reserve. Now they can loan out infinity money.

>>17880524
you braindead fucking retard
do not reply to me again

>>17880196
why YES how do you know ?

>>17880447
How should I put this... you know that episode of Rick and Morty where the galactic dollar does from 1 dollar to 0 dollars?

Same deal.

>>17880783
Anon he said he was too low IQ to understand central banking. I seriously doubt he's a member of the Rick and Morty fandom.

>>17880829
true, such is likely beyond him, but now he can google it and watch a clip.

>>17880223
hello newfriend. now go back.

>>17880193
>bank limits or prevents withdrawals
>critical period to prepare for the crisis
>financial system collapses

See if you leave money in the bank, you don’t have the means to take action during the critical period

>>17879973
way ahead of it
my bank account has nothing on it
anything that touches it, just on ramps to crypto and forex immediately

>>17880196
yes, give me the collapse right now

>>17880196
Why the hell wouldn't I?

>>17880196

>>17880525
No, soviet money was literally worthless for anything other than what the state sold you. If you need anything else, you either had to barter, or have international currency. There were whole stores where you could only buy with international currency, they were fully stocked just like western supermarkets.

>>17880096
ignore this dude and bank run

>>17880075
if the banks become insolvent the money you do have won't even matter

>>17879973
We should unironically use the virus as an excuse to force through all the shit boomers have been preventing for years like getting rid of cash.

>>17880196
The pinnacle of society is an easy climb if it's brought down to ground-level.

>>17880196
>Why contain it?

>>17880150
Bitcoin to 250k eoy

>>17880150
Wow, no wonder they're trying to prevent a bank run.

>>17880447
Money printer go brrrrrrrrr

>>17880196

>>17880957
that was not the case here

>>17880829
>>17880861
>Rick and Morty fans are all high IQ!
Jesus Christ this is a level of cringe I never thought possible. You're actually all onions-chugging beta faggots with room-temperature IQ's.

>>17881000
checked and based

>>17881069
https://www.youtube.com/watch?v=JpKR_6B0_5s

>>17881069
It's a joke dumbass, Rick and Morty fans are braindead.

Which is why I told lowIQfag a Rick and Morty reference.

>>17879973
>NOOOOOOO YOU CANT WITHDRAW YOUR HECKIN MONEYRINO THE HELLA GOOD BANKY BOYS NEED IT! IT DOESN'T MATTER THAT IT IS LITERALLY YOUR FUCKING MONEY!

>>17881022
Where is here? I know the situation in Moscow was relatively good, they always had basic food in stock, and sometimes better stuff like meat. But anything like gold, foreign electronics and cars etc. was only sold for international currency. No one would waste that stuff to get more useless soviet paper, as the government was heavily restricting what you could buy with it, so why bother trading something useful for it?
East of the Ural, I also have first hand stories from over there, and it was much worse. Standing in line all day to buy a few buns of bread, stores were usually empty, unless it was harvesting season, then you could get some stuff. Most people grew crops themselves to be able to eat.

This is all being done to stave a collapse.
>BRRRRR
means a bank run is impossible.
It's being used to get the crash under control and indicates it is predicted to last a short period of time. Which in turn means it should be possible to get inflation back in step.

>>17880150
Powell will go down in history as the absolute worst man to be in charge of the fed at this moment. Quite literally doing NOTHING would do more to ease investor fears at this moment than this retarded horse shit.

>>17880196
>yes

>>17879973

NOOOOOOOOO NOT THE HECKING BANKERINOS

>>17881126
I wouldn't say they're braindead. The show is actually solid (first couple seasons are good, mixed bag afterwards). It's just that meme about needing a high IQ to understand the show took off.

>>17880096
AH GUYS MY BANK ALREADY RAN OUT

>>17881163
Seethe more kike. 3.30 we go to gold standard

you guys do know every place takes credit/debit cards now right? What place are you from where you need cash?

>>17881206
As far as I know, the meme started with this pasta:
>"To be fair, you have to have a very high IQ to understand Rick and Morty. The humour is extremely subtle, and without a solid grasp of theoretical physics most of the jokes will go over a typical viewer's head. There's also Rick's nihilistic outlook, which is deftly woven into his characterisation- his personal philosophy draws heavily from Narodnaya Volya literature, for instance. The fans understand this stuff; they have the intellectual capacity to truly appreciate the depths of these jokes, to realise that they're not just funny- they say something deep about LIFE. As a consequence people who dislike Rick & Morty truly ARE idiots- of course they wouldn't appreciate, for instance, the humour in Rick's existential catchphrase "Wubba Lubba Dub Dub," which itself is a cryptic reference to Turgenev's Russian epic Fathers and Sons. I'm smirking right now just imagining one of those addlepated simpletons scratching their heads in confusion as Dan Harmon's genius wit unfolds itself on their television screens. What fools.. how I pity them.

>And yes, by the way, i DO have a Rick & Morty tattoo. And no, you cannot see it. It's for the ladies' eyes only- and even then they have to demonstrate that they're within 5 IQ points of my own (preferably lower) beforehand. Nothin personnel kid "
I don't think many people actually thought of it as a high IQ show.

>>17881138
CФPJ
my grandad had fake tiles in the bathroom, hidden compartments in chandeliers, wall mounted safes, etc... to store the gold he bought up whilst the economy was stable

Only 1,000 for me

>>17880150
HOLY SHIT IT'S REAL
https://www.federalreserve.gov/monetarypolicy/reservereq.htm

>>17880382
this is why the PM markets are sold out all around the globe rn.

the price is dropping because people flee out of paper PMs because they realise those are worthless.

>>17881257
This your fucking dad brah?

>>17879973
>we will be there when things get bad
sure

In eu its essential not to leave money in the bank in the time of crisis since banks can use your money to cover their debts without your concent and give you worthless i owe u papers.

>>17881163
Trump is simply using the Fed to destroy the Fed. He forced Powell to put RR at 0%, we will print our way out of all debts, then Powell will be fired and replaced with Shelton and a gold standard will be initiated. There is nothing to fear frens. We are all in this together.

>>17881257
Ah, the colonies
My family would always talk about how people there had it so much better, and that Russia was paying for that. It was probably just because people would smuggle stuff from the West into the buffer states, instead of going further east into Russia. Consider yourself lucky that your family lived there, Russia was much worse.

>>17880970
you are a fucking idiot.

cash is necessary so there wont be a suppressicve totalitarian state that can always get you for everything through your paper trail.

kys 60 IQ mongoloid

Should I max my credit cards to buy bitcoin and gold right now? You guys are freaking me out

>>17881418
i was amazed when i found out too
who would have thought that a couple of steps from where i pissed as a child, gold was stored

>>17881524
>take on loans before the recession really starts hitting
If you come out at 0 after all is said and done you're already ahead of most people.

>>17880912
How do I into forex?

>>17880196
I want that so badly

so usdt unironically?

>>17881512
now i'm curious as to how my grandad even got the marks to buy the gold
i assume you could exchange dinar to marks at a steep exchange rate at the time right

>>17881710
Not officially. Again, the government would only allow you to buy from a limited selection of items, just enough to live comfortably in the ideal scenario. 3 meals per day, one apartment and car per family, maybe one plot of land for a small garden. Everything else was considered off limits for civilians, and thus unavailable. You could obviously get stuff from the black market, but that would mean someone is willing to trade you unavailable stuff for soviet money. Since he would already have everything the government provides, why would he do that? He can't buy more cars or food with it.
So your dad either had access to some premium items, like working at a factory that produces electronics, and had dibs on buying them first. Since not everyone was able to get their hands on that, he could trade that for gold or international currency. But no one would exchange rubel or other soviet money for USD or yen.

>>17879973
>reddit
a den of villainy

Brb cashing out

>>17880196
Duh

>>17880020
If you launder money, you win.

>>17879973
Was this person not around when the banks fucked over everyone in 08?

>>17879973
>op can't greentext. is faggot
sa-sa-sa-sage

>>17881960
fuck if i know
could have asked if he wasn't dead
i do know that he didn't do anything illegal
he was a stuck up straight edge kind of guy

>>17881000
Yes, but by eoy $250k wont buy you a loaf of bread

>>17880196
I want bankers to be exposed as the dirty jews that they are yes. Average brain dead people need to figure out that their money is worth jack shit and the bank can lend people money they don't even have.

>>17880196
Yes I certainly do. So if i withdraw i speed it up, right?

Here I come bankerino

>>17880196
If all of society will collapse over people just physically having their than it deserves to collapse.

>>17880773
Lmao this meme

>>17880196
yes

>>17880259
muh joos

>>17880196
Of fucking course

Normies won' withdraw. They need their digital money to order online.

>>17879973
No joke plebbit has a big Jewish userbase. I made a post about Jew privledge once and a dozen or so people that were Jewish told me that it’s all false and that they had to work hard to get where they are. Before it inevitable got deleted and I got permabanned.

I do not doubt they post shit like this for subversive purposes. To get people to continue support their scams. They are afraid all the cash is going to run out and people are going to get angry when they can’t withdraw.

Ever since Babylonian times the banks knew that people tend to never withdraw more then 10%. So they’d only have 20% gold in their banks for withdrawal purposes. They’d collect everyone’s gold and then loan it out to other people at interests. Your gold would be gone. You couldn’t withdraw it in a SHTF situation. It’s the same with modern banks. Oldest Jewish swindle in the book. Take other people’s shit, loan it get interests. Money for nothing. Should be illegal.

>>17882403
That picture is actually really neat; that's a cute thing for a city counsel to do

>>17880970
getting rid of cash is a fucking dumb idea
if you are not a "good" citizen they can take your money with 0 effort if they want when everything is digital

>>17880196
Fuck society.

>>17880394

Keanu?

Is he dare I say it?
Based and/or redpilled?

>>17880196
yes

>>17880196
What do you think we're doing here?

>>17880196
Yes.

Withdrew $1500 today, bank wouldn't let me unless I told them why.

>>17882061
Maplely underrated

>>17881507
That would be rad

>>17880196
I voted for trump purely for this to happen

>>17880196
kind of?

>>17880196
Yes because fuck your niggers and nonwhite slaves

>>17880020
>amerifats all buy leaf money because its corona-proof
>American currency crumbles in value
>Leaf currency becomes world staple, oil is traded based off the worth of maple syrup

>>17879973
Why do I get the feeling that there are literally fiatshills on the internet since september last year.
Is the system it really that bad? That needs to be shilled shitcoin style?

>>17883603
just as planned

>>17883603
This is unironically the plan.

>>17879973
Hah. I've been doing max allowed daily withdrawls of 1000 from atms for a while now. I've been spending quite a lot admittedly but I've amassed about 10k cash so far.
Fuck the banks. It's my money, not theirs.

>>17880196
Yes.

>>17883603
Both currencies are printed by the same people.

>>17880188
kek, autismus maximus.

Get your money before it's fucking frozen.

>>17880196
Obviously.

>>17880196
If the fate of society depends on made up value then it already collapsed a long time ago.

withdrawing all of your money makes you complicit in the degradation of societal trust

>>17880196
no, i do not want the society to collapse. but i know a few things have to change or a lot things will change.

>>17881069
You're fucking retarded
>>17880829
Kek

>>17886243
>dude just trust banks
Hmm no?

>>17886243
>societal trust
The what now?

>>17881069
shut the fuck up, faggot

Why do people even bother with bank runs in America. The fed literally insures your account. If the fed can't pay you what you need, your money is worthless either way

>>17880533

Anons, does this mean I can get a low interest second mortgage right now? My credit score is like 650.

Going to buy 50k Link.

>>17879973
>jews don't like when you're withdrawing cash

>>17881250

The not so distant possible future where things are REALLY falling apart, accounts are frozen, and people who think the dollar might be worth something in the future accept it for bartering?

How is that hard to understand? It’s happened a lot throughout history...

>>17883248
Larp

>>17887114
Why do you find that hard to believe.

>>17880193
>The fuck good is worthless paper going to do you?
I can use it to wipe my bumhole when I'm out of TPs.

>>17887185

Standard procedure for banks when dealing with Crypto niggers or large transactions that aren’t the norm for a customer. They are required to do a little “light” investigating. BSA/AML bullshit, not “OH NO, accounts freezing” bullshit.

Sibling reports major bank out of cash in major US city.

doing my best to annoy these cvcks

>>17880075
Just be grateful that this will be the wake up call to these fuck wits. They will die when the street gangs come for them

but my card don't allow me to withdraw more than 1,000 EUR per week

>>17887347

Go buy some baseboards for that column with that stash you useless pleb.

>>17887420
who cares about baseboards it's literally 1929 2.0

are you a fucking roastie?

>>17886992
No guy the 0% loans are for other banks not you filthy commoners :-)

>>17880970
cuckboys like you love to be dominated by satan, don't you?

>>17881069
rick and morty is total shit. i just watch the old pokemon seasons and be happy that yellow rat says its punch line every episode. piku pika!

>>17880829
People unironically implying that R&M is high iq on chan..
This is over

>>17882465
giving out loans is not the problem per se. the problem is the profits are private (bank) while the losses are collective (the banks don't have to pay for it). reserve rates are at 0.0% right now meaning you give out a loan without owning anything but the gains are completly yours. you have no risk at this point. nothing. loan default? who cares? it's not your money.
the lender should be paid for taking the risk for the borrower. but if the lender doesn'g has to fear consequences of loans defaulting he would be braindead not to give out as much loans as possible. free lottery tickets. you win and continue playing or you lose nothing and continue playing.
i guess we will see hyperinflation. correct me if i'm wrong.

>>17886631
kek this

>>17880196
I'm sick of these plastic people.
Death of the normie era is here

0% RESERVE REQUIREMENTS
>0% RESERVE REQUIREMENTS
0% RESERVE REQUIREMENTS
>0% RESERVE REQUIREMENTS
0% RESERVE REQUIREMENTS
>0% RESERVE REQUIREMENTS
0% RESERVE REQUIREMENTS
>0% RESERVE REQUIREMENTS

>>17879973
>"Knock it off."

>>17879973
How is it that you know whats being posted on plebbit?

>>17880196

Why is this board so sarcastic and stuck up? All of you act like little brats with dildos in your ass.

so if banks have no reserve requirements, it means that they can keep operating even though they're already essentially bankrupt or unprofitable as long as a bank run doesn't occur correct?
I learned that banks uses the repo market to get overnight loans on cash to fulfill their reserve requirements.
the repo market has been dysfunctional since last september so the fed has been injecting money into it ever since.
but if the reserve requirement becomes 0, the banks wouldn't have to use the repo market anymore so the fed can start injecting less money there and use the freed up money on anti-corona crisis stuffs.
this is just my theory though.

fed's repo operation
https://apps.newyorkfed.org/markets/autorates/tomo-results-display?SHOWMORE=TRUE&startDate=01/01/2000&enddate=01/01/2000

>>17880196
just a little bit. i dont want mum to be sad.

>>17890082
This. Just a little minor irreversible catastrophic systemic collapse & boogalo. Don't want to overdo it and make mom sad.

>>17889830
Does a bank run ever matter if you need 0% reserves?
Besides the logistics of actually having the paper digits.

>>17890249
they'll install printers inside every ATM so everyone can hear the comforting brrrrrrrr as they withdraw their helicopter money

>>17880290
And the inevitable nationalist movement that would grow in that cesspit? ABSOLUTELY

>>17880010
100 fucking percent.. prolly a glowie

>>17879973

this sub is literally way too extra now.

downvoted

>>17879973
wait, should I withdraw cash?

>>17880533
so what is it worth.. I argue nothing

>>17890705
yes

>>17880196
>"yes" 33 times
God I love this site

>>17881253
That copypasta was meant as a parody of the fanbase so people were actually like that to some extend